Next Cryptocurrency to Explode Saturday 22 July - BTC20, TRON, Litecoin

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The global stock market ended quite poorly on Friday as stocks in the US lost their grip. But the US dollar gained against the Japanese yen. This came after wide reports that the Bank of Japan was going to maintain its dovish stance for a while longer.

Investors in the US now expect that there will be a soft landing of some sort. Companies are expected to get finance at low rates to avoid a credit crunch when the Fed’s rate comes along.

Still on the same line, global equity funds, on Friday, saw their first outflow in four weeks. It was an event that heightened concerns over China’s slow economic growth. It also sent a cautious feeling ahead of the scheduled Fed meeting next week.

In the midst of these, the crypto market managed to gain 0.52% in the last 24 hours. But the trading volume was down by 11.67%. This is a lower figure than Friday as reported in our last next cryptocurrency to explode post. Investors and traders may get more impetus to buy crypto over this weekend. It will be a way to keep the crypto market up while other factors try to resolve themselves.

The Next Cryptocurrency To Explode

Some crypto assets are solidly in the green and may enter a bull run. If all players join the push, then the entire crypto market would see better returns. Bitcoin’s market dominance rose by 0.04%.

1. BTC20 (BTC20)

The new token inspired by the market’s leading coin, Bitcoin, is advancing with its presale. BTC20 is gaining more traction in the middle of the market situation. This token raised over $500,000 within four days and it has now raised more than $850,000. In addition, it comes with more utility than most other version 2 tokens.

BTC20 is built on Ethereum, so it is an ERC-20 token. It has the excitement that was present in the early days of Bitcoin, as well as the most popular crypto trends. This was the strategy used to get the attention of investors and get funds out of them.

The first aim of BTC20 is to recreate Bitcoin’s origin story when it sold at $1. For that reason, it launched its presale with a supply of 6.05 million units of its token at $1 each.

Furthermore, the project has a supply cap of 21 million like Bitcoin. Of that number, 14.95 million will be set aside to be used as a reward to stakers. This would encourage community engagement and a sense of ownership.

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✨ Experience the magic of the early days as we bring back the $1 era of #Bitcoin. 💫

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— BTC20 (@BTC20Token) July 22, 2023

Another factor that really sets BTC20 apart from Bitcoin is its protocol. While Bitcoin uses proof-of-work to generate new blocks through mining, BTC20 uses proof-of-stake. This is an eco-friendly model as much as it advances sustainability. It also makes sure that token holders earn income passively as they maintain the network’s security.

The token’s design to be an ERC-20 token ensures that users can easily interact with decentralized apps. They can also use wallets compatible with Ethereum while improving their user experience.

According to its whitepaper, the release strategy for BTC20 follows the 120-year plan of Bitcoin. It is a means of controlling inflation while making sure that early adopters receive high rewards.

BTC20 also has a clear strategic roadmap that includes how to market the token, partnerships, as well as decentralized app expansion. It is also coming up with a governance system that enables token holders to participate in decision-making.

Essentially, BTC20 is combining the central principles of Bitcoin with advanced blockchain innovations. Investors should not miss out on this opportunity.

Visit BTC20.

2. TRON (TRX)

The last 24 hours have been quite spectacular for the Tron network. As mentioned above, the market has not experienced a significant push and most assets gained quite lightly. But Tron gained as much as 8% in its own space which kept investors excited.

It should be noted in addition that most altcoins were not able to capitalize on Bitcoin’s indecisiveness. This is evidenced in the coin’s market dominance despite its relative weakness.

Tron’s advance is the most obvious one among a lot of altcoins in the past week. They largely failed to gain by a full percentage. TRX’s 8% gain is one of the best among the first 100 assets by market capitalization.

Evidently, TRX is the next cryptocurrency to explode. Its daily chart shows the present price trajectory over the 50-day exponential moving average. The daily RSI also shot higher than 70 as it went into the overbought territory.

Tron’s average directional index is another indicator that rose. It went beyond 25 to show that a strong uptrend is in play. According to data on CoinMarketCap, the asset now has a market capitalization of $7.66 billion. It also has a trading volume of $668.37 million in the last 24 hours.

With these data, TRX has flipped its major resistance at $0.0857 and broke out of its horizontal trade. If its current momentum is sustained, then it will reach $0.1. The market will be watching as this rally is sustained.

3. XDC Network (XDC)

XDC started Saturday at the top of Coinmarketcap’s gainers’ list. The token is currently up by 17.82% while selling at $0.04945. That is the highest level it has traded since last year April. Constantly increasing for the last 5 days, XDC has jumped by a cumulative of 40% from the lowest point it dipped to the highest point it is.

So far, XDC has gained 97.17% this year. This token’s price is going up with the possibility of reversing its trend. It is likely to reach new heights while hitting hard against its $0.04 resistance. The market hopes that strong support will keep increasing its price and create new demands,

As of this moment, the token has surpassed the 25-day and 50-day simple moving averages. That is a piece of positive news. Right now XDC’s market capitalization is $679.68 million because of the ongoing price action. It is now holding onto a major level of resistance while the RSI has equally risen to an overbought level.

For utility, XDC is useful to enterprises since it is a blockchain with private and public components. As the native token of the XinFin Network, it opens the door to a lot of applications. It has an interoperable smart contract that enables smooth payment that enterprises will find appealing if they wish to have a blockchain infrastructure.

XDC has been through a number of price movements since its establishment. It achieved an all-time high of $0.17 during the bull market of 2021 and it has also seen exclamable lows. It had seen a surge to $0.05 this year before it dropped again. Currently battling $0.04, it is aiming for its 2023 high again.

Some analysts are of the opinion that introducing Chain IDE was partly responsible for its rise. Note that the rise also happened when Bitcoin was briefly under $30,000.

If the current trajectory continues, then XDC will reach $0.059 soon. Investors need to sharpen their game to make this price level a reality. If it does not happen, then the asset may slide to $0.29.

4. Litecoin (LTC)

Litecoin has the characteristics of the next cryptocurrency to explode as traders expect bullish movement around it. One of the major factors inspiring enthusiasm around the coin is its coming halving event. It is when the block rewards for mining the coin will be split in half. LTC holders are eagerly waiting for it.

The coin currently sells for $93.72 while up by 1.45% at this time. It is still sustaining itself above the $90 psychological level.

The LTC halving event is just 11 days away. It is a remarkable event for LTC holders for 2 major reasons. First of all, it cuts down the circulating supply. When the reward is reduced by half, it takes away the selling pressure LTC has.

Secondly, the halving event will be a catalyst for a rally. Traders share the opinion that this upcoming halving will be sufficient to maintain the asset’s price above $90.

While the halving event was in view, an additional 1,185 new wallets joined Litecoin’s network. These wallet owners are bullish on LTC. Hopefully, more traders and investors will join the network and cause the price to reach $100 after the halving event.